What is it like buying a house in Gibbet Hill?

by | Nov 15, 2022

Home $ House for sale in the UK $ Houses for sale in West Midlands $ What is it like buying a house in Gibbet Hill?

Gibbet Hill might be an interesting area to invest in when looking for a house for sale in the UK as it is a unique area in the county of Warwickshire.
Before looking for a house for sale in the city of Gibbet Hill we strongly suggest landlords and real estate investors to research in detail and consider all involved factors. Indeed, house prices can change quite a bit depending on the square foot of the property, the number of rooms, the economic climate, the location of the house and more.

In this data heavy article the reader will be able to find out more on the topic and see the specific data to consider when evaluating different houses for sale in Gibbet Hill.

In Gibbet Hill, what are the rental yields?

Let’s consider that you’re not looking to buy a house for sale to live in for the long term future such as if you changed location with your family and want to settle down and you want to find somewhere to buy as an investor in Gibbet Hill. If this is the case, rental yield is a crucial statistic to consider.

If looking to invest, you should also consider other data about the area. The average rental income, the turnover of the sale of the house and what the net rental yields are like for the area do also have an impact on the final price of houses for sale in Gibbet Hill.

It is clear to see from the table below that there is a difference between all of these pieces of information and how they can be compared and contrasted on a county level (Warwickshire), a regional level (West Midlands) and finally on the level of the city talked about in this article, Gibbet Hill.

Average Yield Average Asking rent Turnover (rental) Turnover (sale)
Gibbet Hill 4.8% £1,098 68% 26.0%
Warwickshire 3.64% £986 113.00% 18.57%
West Midlands 3.89% £877 119.29% 20.00%

You may also find it useful to compare the data above to the number of properties sold per month Gibbet Hill experiences. This figure for house sales per month is 23. Looking at all this information holistically is what a smart investor should do when deciding on the right area for investment before looking for houses for sale.

Is the housing market in Gibbet Hill growing?

Growth in the area can be a good signal of a booming house market. However, too much growth could also have negative consequences on the capital appreciation of a house as time goes on.

Take a look at the table below for Gibbet Hill that shows the growth in recent years.

1 year 3 years 5 years
Gibbet Hill growth rate -6% 8% 27%

High growth rates can signal an appreciating housing market, nonetheless, if there are too many houses being built, this could reduce demand for housing as the supply of houses for sale starts to catch up with the demand. Leading to stagnation or a decline in house pricing so understanding the growth in Gibbet Hill is important.

On average, what is the figure for the asking price of a house for sale in Gibbet Hill?

Before a house gets sold, the figure it sells for always starts off as an asking price. This average asking price for the houses for sale in Gibbet Hill determines the eventual sale price of the house so it isn’t the most important figure but is still important to take note of. This figure is currently £272,565.

Below, there is a table showing the asking price of the different sizes of houses based on the number of bedrooms of the houses in Gibbet Hill.

Table showing the asking prices for houses for sale in Gibbet Hill

Average asking price (1 bed) no relevant data for this city
Average asking price (2 bed) £176,410
Average asking price (3 bed) £248,383
Average asking price (4 bed) £473,696
Average asking price (5 bed) £522,500

Based on this table, hopefully, you will be able to tell what type of house for sale is the most suitable for your budget. You can also consider the average asking price per square foot (£0) for houses for sale with this table to get a good idea as to whether Gibbet Hill is the right area to buy a house in for you.

What kind of demographics does the city of Gibbet Hill have?

Is the city of Gibbet Hill deprived?

Deprivation levels refer to the ability of the population of the city to earn enough to keep their lifestyle going. Nationwide, it is thought that the number of people at this level or not being able to meet the costs of living is around 33%. In comparison, the deprivation level of Gibbet Hill is 23%.

Gibbet Hill in the county of Warwickshire is notable for its specific demographics and has individual characteristics.

For localised cities and the bigger areas of the UK there are wide variations in the demographics that shape an area so the same is also true for the wider region Gibbet Hill is located in; West Midlands.

Below, these demographics are talked about in headings that explain how the city has grown, what the education levels are like in Gibbet Hill, what the social grade score of the city is like and if the green space matches the recommended levels people living in the UK should have.

Is there sufficient green space in Gibbet Hill?

In the city of Gibbet Hill, there are 12.9 acres of green space per 1000 residents.

The charity, ‘Fields in Trusts’ recommends a minimum of 6 acres of green space per 1000 people so it is easy to see where Gibbet Hill is when seeing if green space availability is sufficient. This green space could be parks, nature reserves, public gardens or playing fields.

What’s the crime rate in Gibbet Hill?

The crime rate of Gibbet Hill must be looked at sceptically. The reason for this is that the crime rate can vary within a city greatly and the type of crime committed can also vary too.

For example, the area has a crime rate of 117, but another city may have a higher crime rate but not be deemed as dangerous due to lower level crime or minor offences being committed.

Either way, high crime rates are never a good sign so consider the rate against the UK average of 79.52 for every 1000 people as a benchmark.

Lower rates could mean things like home insurance is cheaper and you have to install fewer security measures throughout your house. Saving you money in the long run. So the statistic of crime rate (117) is both useful and is recommended to be compared to the average.

In Gibbet Hill, how has the population changed?

In total, the number of people in Gibbet Hill is 32,767. This figure can be used to estimate the appreciation of the houses but it is also important you look at the population growth figure in order to make this more accurate.

Whether a large population benefits you as a landlord is dependent on what you want from a home. A large population is great if you have children who prefer the bustle of crowds in cities but there are also those who purposely want to buy somewhere rural.

You may also be able to find a balance of both where there are shops, restaurants and entertainment and also rural areas all within a short distance which may be the case ni Gibbet Hill, depending on where exactly you are.

How has Gibbet Hill changed in the past five years?

Five years provides enough time for a city to grow dramatically. It may be the case that the population grows or shrinks but the city of Gibbet Hill has changed by 10%. Read more here

It is also helpful to compare this data to a longer time period like 10 years like in the below subheading. If the population trend of growth or decline has been there for a longer period of time you’ll be able to tell if 10% is a recent change or not.
Click here to know more on the UK population trends.

In the last decade, what is the difference in population in Gibbet Hill?

22% has been the population growth change in the past 10 years.

Usually, this is more of a conservative figure compared to the five year change of a city.

Industrial changes can also be the reason for this shift but it could also be due to immigration or emigration. Bringing people in or out of the area.

The recent global pandemic has also shifted the number of people living in cities as people realise they can now work remotely. It may be that the people of a Gibbet Hill have seen a more desirable way of working, moving to make themselves more comfortable in their careers.

For example, the population of the South west of England has seen a massive increase in population because workers want to move there to benefit from the slightly better weather, lower house prices and also the rural area. Nonetheless, they can also benefit from travelling to the capital city of the UK, London.

How educated are the people in Gibbet Hill?

In Gibbet Hill, the proportion of people who have a degree is 30%. Generally speaking, as the number of people with degrees increases, the more people are able to afford houses to buy as a degree is a good indicator of a higher income. To put this into perspective, the average income of Gibbet Hill is £40,100.

This figure for average household income usually goes up alongside the percentage of people who have degrees.

However, this is not a hard and fast rule, there are many factors influencing the buying power of a population and hence the appreciation of housing and the number of houses for sale in the area. This can include the rental yields of the area and other demographic statistics like crime rate.

Nonetheless, it cannot be argued that those with degrees tend to live in more affluent areas as 82% of people who achieve a first in degree level education are owners of the place they live.

What is the social grade score of Gibbet Hill?

The social grade score is a good indicator of what type of jobs people generally work in the area. Whether that be working in the primary sector, secondary sector, tertiary sector or maybe the quaternary sector of jobs.

The scale is slightly different to this though on a scale of A to E. A refers to people who are in the most skilled, managerial roles whereas E include people such as casual workers.

In Gibbet Hill, the percentage of people in the two highest categories, A and B is 19%. This figure includes people who are therefore most likely to be more skilled and have higher paid jobs.

When contrasting these figures, the average household income for the area is £40,100. This income will generally get bigger as the percentage of people in the A and B categories go up too (19%).

How much do people in Gibbet Hill earn?

As earning potential goes up in a city, so does the quality of schools in the area, the general infrastructure and the social grade score (19%). All in all, the area becomes a more desirable place to live in.

This is why it is vital to pay attention to how much people are making annually in any city you plan on making a house purchase in. In Gibbet Hill, this works out to be £40,100. This can be looked at alongside the average household income which is price34,000to estimate how affluent the area is.

In general, what do houses for sale sell for in Gibbet Hill?

In Gibbet Hill, houses for sale are sold at an average of £227,323. In general, multiple factors impact this figure because lots of variables impact properties valuation. This can include the quality of the buildings in general, whether the population has grown, if there is demand for housing or if there is a low crime rate which would make the area more desirable.

In the table below, you can see for yourself how the average price of a house for sale looks based on the different sizes of housing in Gibbet Hill. The exact amount of variation between the types of housing depends on the local demand for particular types of houses in the area.

Housing category Total final sale price
Aerage sold price (detached) £416,142
Aerage sold price (semi-detached) £226,886
Aerage sold price (terraced) £176,088
Aerage sold price (flat) £129,336

As you can see above, for Gibbet Hill, price varies based on the type of house that is being sold. If these prices shock you it could be due to population change in the last 10 years of 22% where lots of movement may inflate or deflate house prices.

Housing category Sale price per square foot
Aerage sold price/sqft £2,540
Aerage sold price/sqft (new build) £2,740
Aerage sold price/sqft (old stock) £2,390

Looking at the second table about Gibbet Hill, you are able to tell which type of housing is most affordable to you as a buyer. However, for a general overview of what house price is, the average price per square foot for a house in Gibbet Hill is £2,540.

Advice from experts on properties for sale in Gibbet Hill

Other cities you can consider looking for with houses for sale

See here below a list of cities in the same UK region of Gibbet Hill which is West Midlands. You might want to consider these as alternatives for your next real estate investment:

Or, visit our dedicated page on the houses for sale data for the whole of the UK – houses for sale in the UK.

Choose the right house for sale that suits your needs

When browsing houses for sale in Gibbet Hill you should think about lots of different criteria:

  • House for sale affordability – visit the dedicated page of the UK government to understand (see what you can afford)

  • Location of the house for sale – the region and town you are considering to live in are crucial factors to consider before looking for houses for sale. In this article, we define lots of demographic factors that should help you make a decision.

  • House for sale transport links – even if working from home is becoming more and more predominant, we suggest you check the transport links the house for sale has.

  • Number of bedrooms in the house for sale – are you looking for houses for sale for the whole family or are you single? Always think about how many bedrooms you need and if that number might change in the future

  • energy performance of the house for sale – What is the EPC of the house for sale? Today more than ever, is important that you check the EPC rating of the real estate assets available for sale on the market.

  • Internet speed in the area of the house for sale – is important to remember that internet speed is a consequence of two factors: your plan and the infrastructure available in the area. Always check these parameters before looking for houses for sale

  • Does the house for sale have parking – if yes, is it on-street or is the house for sale equipped with a garage?

  • Houses for sale in conservation areas – always check the National Heritage list. If a house for sale is part of this list it means that it might be impossible for you to make changes to the property’s internal and external structure.

  • Houses for sale Conditions – some properties, like new builds, need no repairs or works; other houses listed for sale may need some investment to restore them and some others may need a complete renovation. Someone looking for houses for sale should always think about how much time and money they are willing to invest to complete the needed repairs.

Who should you talk to while going through the process of making an offer on a house for sale?
Several experts specialise in giving advice to property investors or to first time potential buyers.

Since the process of finding the right house for sale can take months, you have all the time to consult with the experts you might need.

Find here a list of those you should contact to get professional guidance and assistance when purchasing a house for sale:

  • Lender – This practitioner can lend you money to finalise a house purchase
  • Insurer – Insuring companies will provide you with the insurance policy you need to protect the house for sale you want to buy
  • Legal representative – This professional is usually there to handle all the legal tasks associated with purchasing a home for sale.
  • Surveyor – Carries out and independent valuation on the house for sale based on its conditions. It is very useful to understand the correct price before making an offer
  • Mortgage specialist – Mortgage advisors works on commissions. They will get a cut from the bank and will guide you with offering the best deals given your financial situation
  • Energy assessor – We strongly suggest you to invest in a professional assessment of the Energy Performance of the house for sale you want to purchase